Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In purely competitive market, if firm has zero profit, then price in the market is equal to: minimum avarage variable cost minimum avarage total cost

image text in transcribed
image text in transcribed
In purely competitive market, if firm has zero profit, then price in the market is equal to: minimum avarage variable cost minimum avarage total cost marginal cost O minimum avarage fixed cost

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Economics

Authors: Bradley Schiller, Karen Gebhardt

10th edition

125923570X, 978-1259235702

More Books

Students also viewed these Economics questions

Question

Be relaxed at the hips

Answered: 1 week ago